Could RPX Corp (RPXC) Gain Strenght After Forming Multiple Top?

September 17, 2017 - By Adrian Mccoy

Investors sentiment decreased to 1.15 in 2016 Q4. Its down 0.05, from 1.2 in 2016Q3. It dived, as 9 investors sold RPX Corp shares while 46 reduced holdings. 23 funds opened positions while 40 raised stakes. 40.39 million shares or 2.60% less from 41.47 million shares in 2016Q3 were reported.
New York-based Alliancebernstein Ltd Partnership has invested 0% in RPX Corp (NASDAQ:RPXC). Gotham Asset Llc reported 0% of its portfolio in RPX Corp (NASDAQ:RPXC). Sei Invests holds 0% or 44,385 shares in its portfolio. Wellington Mngmt Grp Llp owns 189,621 shares or 0% of their US portfolio. Price T Rowe Associates Md holds 0% or 11,537 shares in its portfolio. California-based Menta Capital has invested 0.13% in RPX Corp (NASDAQ:RPXC). Envestnet Asset Management Inc reported 0% in RPX Corp (NASDAQ:RPXC). Ny State Common Retirement Fund has 84,298 shares. Pacific Ridge Cap Partners Ltd Limited Liability Company has invested 0.18% in RPX Corp (NASDAQ:RPXC). Stevens Capital Lp, a Pennsylvania-based fund reported 12,777 shares. Hbk Invests Lp owns 122,200 shares for 0.01% of their portfolio. Seizert Capital Prtn Ltd reported 311,234 shares or 0.12% of all its holdings. Citigroup holds 74,404 shares or 0% of its portfolio. Swiss Commercial Bank stated it has 0% of its portfolio in RPX Corp (NASDAQ:RPXC). 17,712 were reported by State Board Of Administration Of Florida Retirement Sys.

Since May 3, 2017, it had 0 insider buys, and 6 sales for $1.38 million activity. Yen Mallun sold $135,162 worth of stock. 35,000 shares were sold by HEATH ROBERT H, worth $473,428. On Friday, May 12 the insider Campion Trevor sold $541,456.

The stock of RPX Corp (RPXC) shows a multiple tops pattern with $13.30 target or 4.00 % above today’s $12.79 share price. The 7 months chart pattern indicates low risk for the $633.11M company. It was reported on Sep, 17 by Finviz.com. If the $13.30 price target is reached, the company will be worth $25.32 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.55% or $0.07 on September 15, reaching $12.79. About 388,676 shares traded or 68.65% up from the average. RPX Corp (NASDAQ:RPXC) has risen 55.41% since September 17, 2016 and is uptrending. It has outperformed by 38.71% the S&P500.

Analysts await RPX Corp (NASDAQ:RPXC) to report earnings on November, 2. They expect $0.11 earnings per share, down 42.11 % or $0.08 from last year’s $0.19 per share. RPXC’s profit will be $5.45M for 29.07 P/E if the $0.11 EPS becomes a reality. After $0.11 actual earnings per share reported by RPX Corp for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

RPX Corp (NASDAQ:RPXC) Ratings Coverage

Among 3 analysts covering RPX Corporation (NASDAQ:RPXC), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. RPX Corporation had 9 analyst reports since August 20, 2015 according to SRatingsIntel. The stock of RPX Corp (NASDAQ:RPXC) has “Underweight” rating given on Thursday, August 20 by Barclays Capital. The stock of RPX Corp (NASDAQ:RPXC) has “Neutral” rating given on Wednesday, December 16 by Robert W. Baird. The stock of RPX Corp (NASDAQ:RPXC) has “Outperform” rating given on Friday, February 17 by Robert W. Baird. Cowen & Co maintained RPX Corp (NASDAQ:RPXC) rating on Friday, November 4. Cowen & Co has “Outperform” rating and $12 target. Cowen & Co maintained the stock with “Market Perform” rating in Wednesday, February 15 report. Cowen & Co downgraded RPX Corp (NASDAQ:RPXC) on Monday, February 6 to “Market Perform” rating.

More notable recent RPX Corp (NASDAQ:RPXC) news were published by: Prnewswire.com which released: “RPX Corporation Announces CEO Transition” on February 06, 2017, also Prnewswire.com with their article: “RPX Corporation Completes Transaction with ZiiLabs” published on July 10, 2017, Seekingalpha.com published: “RPX Corp Is An Attractive Value Proposition” on September 14, 2015. More interesting news about RPX Corp (NASDAQ:RPXC) were released by: Seekingalpha.com and their article: “RPX Corp.: 6x EV/FCF For This Patent Troll Killer” published on November 11, 2015 as well as Marketwatch.com‘s news article titled: “12.79” with publication date: May 07, 2011.

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